Question on: JAMB Accounting - 2022
A government accounting systems must make sure that
A
revenue exceeds expenditure
B
all applicable legal provisions are complied with
C
capital expenditure is equal to revenue
D
capital project fund is tied to recurrent expenditure
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Correct Option: B
A government accounting system must ensure that all applicable legal provisions are complied with. This includes adhering to budget laws, financial regulations, and other relevant legislation. While other options might be desirable outcomes, compliance with laws is the fundamental requirement.
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